Effective December 1, 2022, Oyster is introducing Occupational Pension as a new benefit in Sweden.
Occupational pension, “tjänstepension”, is a supplementary pension scheme in addition to the statutory pension, “allmän pension”. Occupational pension is a very common benefit and is offered by almost all companies in Sweden.
On this page you can find the answers to most frequently asked questions about this new benefit.
How are team members enrolled into Occupational Pension?
Current team members:
All current team members are automatically enrolled into occupational pension with Skandia. No additional action is required from team members or companies.
Oyster's Hire team will enroll all new hires to the pension plan by default. Our pension provider Skandia will get in touch with the team members and offer additional consultation.
What are the minimum pension contributions?
The total contribution amount depends on the gross salary of the team member. If the monthly gross salary does not exceed the cap of SEK 44,375, the pension amount will be 4.5% of the gross salary. In case the gross salary exceeds this cap, on the salary amount exceeding the cap 30% will be applied.
In addition to the pension, there is a mandatory employer tax (SLP) of 24.26% applied to the total gross pension amount. For the company the total pension cost is the sum of pension contributions plus tax.
Can we choose a custom rate for pension contributions?
No. Due to non-discrimination requirements the contributions are fixed to a % of the gross salary of the team member. The percentages were chosen based on the most common solutions for occupational pension.
Is it mandatory to make retroactive contributions?
Yes. Due to non-discrimination requirements, all currently engaged team members should get retroactive pension payments for the entire time of their employment with Oyster Sweden, i.e. starting from their start date with us.
Can team members or companies opt-out of the pension plan?
No. Neither team members nor companies can opt-out due to non-discrimination directives. However, please submit a request if you have questions or concerns and we will do our best to accommodate you.
When will this change be effective?
- The first payment to the occupational pension will be made along with December 2022 payroll
- An occupational pension is automatically added to new hires